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ISLAMABAD, Jul 11 (APP):The Central Directorate of National Savings (CDNS), Savings certificate rate on the Defence Saving Certificates reduced, from 11.91 per cent to 11.76 per cent.
The profit rate on Special Saving Certificates has been considerably decreased from 10.90 per cent to 10.60 per cent from last week of June, 2025, a senior official of CDNS, told APP here on Friday.
He said the profit on the Shuhada Family Welfare Account has also reduced on Regular Income Certificates by 20bps.
For Islamic Saving Account, the savings rate also decreased 59bps, setting the current rate at 9.75 per cent, he said.
Replying to a question, he said that the CDNS has accomplished a net target of Rs 255 at the end of fiscal year, from July 1 to June 30, 2024-25.
The CDNS has achieved the net annual target of Rs 106 billion for the current Fiscal Year, 2024-25, which will promote the country’s saving culture, he said.
Similarly, the CDNS has set a target of Rs140 billion in investments in Islamic finance for the Current Fiscal Year, which will lead to the growth of the Islamic economy in the country.
He said that National Savings has set an annual target of Rs1.7 trillion for the year 2023-24; it is encouraging that this year, “We surpassed the 100 per cent of the annual target.”
The CDNS surpassed the annual target and achieved the target of Rs 1.6 trillion in fresh bonds in the previous fiscal year 2022-23, he said.
He said it was an Rs 200 billion additional annual target than the target of Rs 1300 billion for the previous financial year 2021-22.
The CDNS has set a revised saving target of Rs 1.4 trillion for the financial year (2021-22), which will promote a savings culture in the country, he said, adding that given the current market trend in the country, the ambitious target had been set to further improve the savings culture.
The official said that work was being done on institutional reforms in CDNS and new reforms and innovations were being introduced.